Hacker News founder and CEO Michael Moritz said the company’s flagship website will soon be hacked to the tune of $10 million.
Moritz was responding to a story about the site, which lets shoppers shop online without having to enter their credit card numbers.
Moriz wrote in a Medium post on Friday that the site will be compromised by hackers soon.
He also shared a message from Moritz on the Hacker News blog that said: We’re very happy to announce that our website 1688.com will be breached within a few hours.
As of now, we are working on a fix to prevent this from happening again.
The message also said that the hacker is “very active” and will likely use the compromised site to “influence” retailers.
Moritzer said the site is currently “at the mercy of a handful of rogue actors,” and he’s “extremely grateful for the help” of the hacker.
16 88 is a popular shopping site that lets shoppers search and shop without having access to credit cards.
In addition to selling products, shoppers can browse other sites, which includes Amazon, eBay, and many others.
Morithotts post says that the company is “not in a position to announce how much money will be lost due to this attack.”
He also said 16 88 has been “relying on a combination of our existing infrastructure, a lot of our own resources, and the good faith of our users.”
A message on 16 88’s blog also said the hack was “very unlikely to be successful” and that Moritz is “currently working with law enforcement to get to the bottom of this.”
However, he did not give a specific estimate for the amount of money lost.
Moratiz wrote that 16 88 “is currently working on mitigating the risks” of hacking and said the website will be “back up and running shortly.”